What is the minimum annual PRSI contribution required to gain State Pension?

G

Gervan

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I am a proprietary company director with very small salary. No other income.
When I file a joint tax return the calculations show I have to pay the balance of PRSI to achieve the minimum (now €500 p.a.) contribution.
I have always believed I had to pay the minimum self-employed contribution, for it to count towards my State Pension record.
On another thread the advice has been given that the 4% of salary, as per payroll calculation, is all that is required.
Am I overpaying?
 
the € 500 is a minimum imposed on the self-employed and I think that is the category the proprietary company directors fall into, so no the minimum is € 500
 
Ridiculous and unreasonable to be opening a second thread on this when your question was answered in the first.
 
T McGibney said:
Ridiculous and unreasonable to be opening a second thread on this when your question was answered in the first.
Click to expand...

I didn't ask a question in another thread.
I gave a reply to someone's question.
I have been told my reply was wrong.
I clearly need other opinions. One has been given above.
 
Gervan said:
I am a proprietary company director with very small salary. No other income.
When I file a joint tax return the calculations show I have to pay the balance of PRSI to achieve the minimum (now €500 p.a.) contribution.
I have always believed I had to pay the minimum self-employed contribution, for it to count towards my State Pension record.
On another thread the advice has been given that the 4% of salary, as per payroll calculation, is all that is required.
Am I overpaying?
Click to expand...

You'd be well advised to a) read up on this b) study social welfare .ie c) ask citizen advise and d) ask the pension office in Sligo (?) in writing what your current social welfare status is re pension and what to do to get enough credits/stamps to get the full contributory pension.

I think this time of the year is tetchy for people in business especially accountants having to deal with clients coming in at the last minutes with their accounts in cornflakes boxes (my accountant informed me once ) and the deadline over the horizon and fast approaching.
 
I've written a letter to Dept Social Protection to see what the story is

I'll post up what they say when they reply, probably next July!
 
DB74 said:
I've written a letter to Dept Social Protection to see what the story is

I'll post up what they say when they reply, probably next July!
Click to expand...

Always send the letter by recorded delivery, it's free as far as I know. But also as far as I know the pensions office is one of the most efficient offices.
 
DB74,

on any pension/contribution type queries I have found our Dept of Social Protection A1.

If your question is clear their answer should be clear.
 
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